Santander and Apollo invest in $370m infrastructure portfolio

Santander has partnered with Apollo to invest in a $370m (£290m) portfolio of infrastructure credit.

The deal was led by Apterra, an affiliate of Apollo founded in 2023 that specialises in financing solutions for infrastructure projects.

Over the past five years, Apollo has deployed more than $40bn into energy transition and climate-related investments and actively seeks to grow its platform as capital deployment in these areas of the global economy continues to scale.

Read more: $25bn Apollo/Citi deal brings private credit into the mainstream

Across asset classes, Apollo targets deploying $50bn in clean energy and climate investments through 2027 and sees the opportunity to deploy more than $100bn by 2030.

Santander raised €220bn (£182bn) in green financing between 2019 and 2030. At the end of the third quarter of 2024, Santander had €1.3tn in total funds.

Earlier this month, the bank announced a tie up with European private credit manager Pemberton Asset Management to jointly launch a business focused on supply chain inventory finance.

Read more: Apollo sees credit AUM rise by 20pc to $598bn in Q3

“As we continue to execute on our strategy to proactively rotate assets and maximise profitability, we are pleased to partner with Apollo and Apterra on this portfolio transaction,” said Santander global head of private debt mobilisation Marcel Patino. “We remain committed to private debt mobilisation to generate additional capital for profitable growth as we continue to accelerate our business transformation efforts.”

Apollo partner and president of ACT Capital Samuel Feinstein said: “We are pleased to announce this transaction with Santander, which builds on our longstanding relationship and demonstrates the type of bespoke financing solutions that Apollo can provide to our banking partners and corporate clients. We have high conviction in the infrastructure finance opportunity globally given the large capital demands that will continue to drive investment in the sector and see continued opportunity to collaborate with Santander in the space.”

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